USDCHF Movement
For the 24 hours to 23:00 GMT, the USD rose 0.89% against the CHF and closed at 0.9372.
On the economic front, the gross domestic product (GDP) in Switzerland expanded 0.2% (QoQ) in the Q42012, compared to a 0.6% rise recorded in the previous quarter. However, on a monthly basis, the harmonized CPI fell 0.5% in January, compared to a 0.1% rise in the previous month.
In the Asian session, at GMT0400, the pair is trading at 0.9363, with the USD trading 0.10% lower from yesterday’s close.
The pair is expected to find support at 0.9304, and a fall through could take it to the next support level of 0.9246. The pair is expected to find its first resistance at 0.9398, and a rise through could take it to the next resistance level of 0.9434.
The SVME – purchasing managers’ index, due later today in Switzerland is expected to reveal a slight drop in February.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
